Investment Perspective - A Crypto Reality Check
It's funny, like most I have grown frustrated with the lack of price rise in bitcoin and the alt coins over the past several months.
Granted, the joy of bitcoin not going down anymore was nice for a while, but now many are thinking - when the heck are you going to go up!?!
Actual Investment vs. Current Return
We are all in different positions. Some got into crypto before the parabolic rise and some bought near the top and everywhere in between.
All I can do is speak for myself.
This morning I began laughing at my frustration with the value of my crypto holdings. I stopped thinking of "how much I had" and thought about "how much I started with."
See, I was lucky enough to invest in a little bitcoin in August of 2016. Just before prices went on the sickest six month run ever. Do I wish I invested more? Heck yeah! However, I grabbed 1.5 btc at a total cost of $900.
Yep, that is it. I put $900 in as an investment. I have since used gains in bitcoin to buy other coins. I have also earned coin by posting on steemit.
Over the past year I have cashed out some as I made crypto one of my streams of income (sidebar: you should look to build multiple streams of income into your life).
Bottomline is - I don't have any money out of pocket invested in crypto at this point. So what do I have to be frustrated about? Granted, seeing my portfolio at the January highs would be great, but that should not be my comparison.
My comparison should be against what my actual investment is. In that regard, I should be grateful.
Your position and prospective
For those of you that own coin below these prices or have been able to cash out coin so that you don't have much at risk anymore, congratulations. Pay mind to that and realize we are in a great position with more upside potential than downside risk.
For those that bought much higher and are holding at a loss, well sorry that kind of stinks. Hopefully it was only money you could afford to invest so you can leave it be.
It may be a long time before we see bitcoin and crypto on a whole hit the prior highs, however if you got in it for the long haul then you know what you signed up for. Well, at least you should have know - which holds for any investment, which I discussed in my last post: Two Easy Steps for Investing Success
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We are in the same boat as I am just playing with the houses money at this point. I have slowly put back in the market all my gains as I still think there is opportunity over the long run. If not, it has been fun and with my journey here on Steem, well worth it!
Yeah, I have thought about adding to positions down here, but I'm content with my portfolio and so many opps outside of crypto I need money for.
I relate to this a lot. I am quick to remind myself I am still sitting on gains and to be patient.
At one point I was far too interested in crypto becoming my investment vehicle. After sitting back for a few months I realised I must focus on other areas and just let the crypto market play out.
Not doing well myself but I was disciplined enough to only invest what I could afford to lose. It sucks but I have come to terms with watching my money dissapear and I'm sure these strong hands will help me take on any dips and gains that happen in the future.